LOTUS REFINERIES- SQUANDERING NSEL INVESTORS MONEY

LIST OF ITEMS  INTRODUCTION  DIVERSION OF INVESTORS MONEY  ARUN KUMAR SHARMA  PRODUCTS BRIEF  ASSETS OWNED BY ARUN SHARMA  ASSETS SEIZED BY EOW

BEGINNING  LOTUS REFINERIES PVT LTD. is one of the manufacturer and marketer in edible oil products  It annual turnover of Rs Crores.  Lotus Refineries holds varieties of products extensions under the LR active brand. Contd …..

 Lotus Refineries is led Under the Chairmanship of Arun Kumar Sharma  Prashant Kumar Anand is the MD of Lotus Refineries.  Lotus Refineries financed few Bollywood movies under LR Media.  The units of lotus refineries are located at various locations in India- Mumbai, Chandigarh & Ludhiana.

DIVERSION OF INVESTOR MONIES.  In recent, NSEL 5,575 Cr. Crisis, Lotus Refineries is one of the notable defaulter owing Rs Cr.  As in media reports Arun Sharma is being alleged to be a big fraudster and manipulator of its stock record’s by issuing fake bills.  Arun Sharma took money from NSEL and diverted in real estate projects, interiors and producing Bollywood films.

ARUN SHARMA On 11 th November 2013, The Economic Offenses wing arrested Arun Sharma in the NSEL crisis.The Investigation led under Chief Investigating Officer of EOW Mr. Rajvardhan Sinha. ARUN KUMAR SHARMA

ARUN SHARMA  He is a well-known entity and has a close relationship with many famous celebrities  Arun Sharma produced Bollywood films like “Satya 2” “Dehradun Diary” Contd …

FAMOUS CELEBRITIES WITH ARUN KUMAR SHARMA

PRODUCTS BREIF  Lotus refineries Pvt. Ltd. have various edible oil category.  The LR-Active Oil, flagship brand of LR Active, holds varieties of product extensions under the LR Active brand.

PRODUCTS BREIF The banner LR Media is also owned by LR Pvt. Ltd.

ASSETS OWNED BY ARUN SHARMA

SEIZED ASSETS OF LOTUS REFINERIES BY INVESTIGATING AGENCIES  Eow seized lotus refinery assets which include an office in Andheri,  2 Flats in Mumbai, 2 bungalows & 1 plot in Chandigarh,  1 factory in Ludhiana and machineries in Yavatmal.

ECONOMIC OFFENSES WING  Chief of Economic Offences Wing (EOW) Rajvardhan told media persons that Sharma had borrowed about Rs. 159 crore from the exchange but the money was spent on buying real estate, decorating offices and producing films. He had no intention of returning the money to NSEL

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